Phoenix American Divests Fund Services Unit to Vistra

Phoenix American has sold its U.S. fund administration and transfer agent business to Vistra, expanding Vistra's capabilities in the U.S. market and enhancing services for both companies' clients.

August 14, 2024

Phoenix American Financial Services Inc., a provider of fund administration and transfer agent services for the alternative investments sector, has sold its U.S.-based fund services business to Vistra, a Hong Kong-based global business services firm. The terms of the sale were not disclosed.

The deal includes Phoenix American's expertise in managing Reg D, Reg A, and Reg CF funds, but excludes the company’s aviation services division. This acquisition allows Vistra to strengthen its presence in the U.S. market, enhancing its fund administration and transfer agent capabilities and offering end-to-end solutions across the investment lifecycle.

Phoenix American's clients will benefit from Vistra’s global corporate and fund services, particularly those expanding internationally. Vistra will also integrate Phoenix American’s STAR-XMS technology platform, which tracks investor transactions, bolstering its services in the retail investor space.

COO Andrew Constantin of Phoenix American noted the strong alignment between the two companies, emphasizing their shared values and commitment to client service. Vistra CEO Simon Webster highlighted that the acquisition will enhance Vistra’s ability to support its North American clients and offer new opportunities for international clients in the U.S. market.

As part of the transaction, Phoenix American’s Chief Strategy Officer, Zane Doyle, will join Vistra, where he sees significant growth potential in the U.S. market for SEC-registered alternative funds in the coming years.